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The team behind one of Solana’s largest projects is midway through a $100 million raise to expand operations. According to a press release provided to CoinDesk, the Incentive Ecosystem Foundation, the legal entity staffing the team behind the orderbook-based decentralized exchange, is raising the funds to hire and move into
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The Solana blockchain has faced its second network performance degradation incident this week. According to Solana, this is happening because of a rise in high compute transactions. As a result, the network capacity, which was originally advertised to be 50,000 transactions per second (TPS), was reduced to several thousand TPS. Solana
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Among the top ten cryptocurrencies by market capitalization, tokens of Ethereum rivals Avalanche (AVAX), Terra (LUNA), and Solana (SOL) – the so-termed ‘SoLunAvax’ trade – fell as much as 12% in the past 24 hours. Polkadot (DOT), another Ethereum rival, saw its tokens fall by 14% before seeing a slight
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The Solana blockchain has suffered a third incident in just a few months that clogged the network and caused transactions to fail, with users debating whether it was caused by another DDos attack or if it was just network issues.The scale and nature of the incident is hard to ascertain,
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Both companies (and leadership at the blockchain’s keystone stakeholder, Solana Labs) have called mobile wallet apps critical to the superfast network’s long-term growth. Mobile wallets let users trade, send, swap and stake cryptocurrencies and NFTs from their phones. Source
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Catch up on nonfungible token (NFT)-related news this week as Cryptox rounds up the stories you don't want to miss. Bored Apes gets cast in an TV seriesThe Red Ape Family (TRAF) is a new animated comedy series centered on Bored Ape Yacht Club (BAYC) NFTs. Episodes are sold as individual
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Solana is a highly scalable decentralized blockchain developed with a unique method of ordering transactions that significantly improves its transaction throughput, to the point that it has consistently been processing over 2,500 transactions per second. It claims to be able to process 50,000 transactions per second.The power of Solana’s cheap transactions
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Solana (SOL) has become a top contender in the smart contract industry and in the past year the network's total value locked (TVL) grew by $660 million and stretches across more than 40 decentralized applications to hit an all-time high above $11 billion.Even with this growth, investors have reason to
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The total value locked (TVL) in decentralized finance has slid 15.63% since the metric’s all-time high of $275 billion sixteen days ago on December 1. Since the end of the first week of December, the TVL is down 7.19% lower with a number of protocols seeing seven-day losses in terms
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Altcoins like Algorand and Solana have recorded some of the highest losses following the market crash. This has been apparent in the performances of these digital assets in the past week. While the market at large had experienced dips, Algorand, Solana, and Hedera had led the pack for the worst
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